Hurricanes. And more hurricanes. And now tornadoes. And yet, according to the report issued by the Commerce Department today, November 30, 2005

The economy grew at a lively 4.3 percent pace in the third quarter, the best showing in more than a year. The performance offered fresh testimony that the countrys overall economic health managed to improve despite the destructive force of Gulf Coast hurricanes.

Not confined to one sector, the good news spread throughout the economy; the GDP, business and consumer spending, and investment and residential construction all increased more than expected while inflation increased less than predicted. Although employment didnt do as well this period because of the storms, economists forecast improvement.

But the New York Times warns us this morning about good economic news:

But as always with the United States economy, it is not quite that simple .

It all means that the economy is likely to end the year with a splash, but that does not mean the broad economic picture next year will be even better.

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